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ND SB2097
Bill
Status
2/20/2025
Primary Sponsor
Tim Mathern
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AI Summary
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Creates a permanent rural community endowment fund in the state treasury with $5,000,000 appropriated from the general fund for the 2025-2027 biennium
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Fund principal cannot be spent; only investment income may be used for grants to support housing, workforce, business recruitment, infrastructure, and other community needs in cities with fewer than 1,000 residents
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Establishes an 11-member rural community endowment fund committee, chaired by the commissioner, to award grants prioritizing long-term prosperity, safety, health, and quality of life in rural communities
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Requires the department to contract with a nonprofit organization to assist with fund administration, with up to 10% of available distribution funding permitted for administrative costs
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Department must report annually to legislative management on fund status, funding use, and program results before July 1 each year
Legislative Description
The creation of a rural community endowment fund and a rural community endowment fund committee; to provide an appropriation for the rural community endowment fund; to provide for a transfer; and to provide for a report.
Last Action
Second reading, failed to pass, yeas 20 nays 72
4/15/2025